Stage Stores (NASDAQ:STGS)
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Stage Stores, Inc. (Nasdaq:STGS) today reported that
total sales for the four-week period ended October 29, 2005 increased
17.9% to $96.3 million from $81.7 million in the prior year four-week
period ended October 30, 2004. Comparable store sales increased 14.9%
versus an increase of 1.8% last year.
For the third quarter ended October 29, 2005, the Company reported
that total sales increased 7.3% to $306.0 million from $285.3 million
last year. Comparable store sales for the quarter increased 3.9%
versus an increase of 4.3% last year. The Company noted that its last
year third quarter comparable store sales results benefited from a
calendar shift in the Texas sales tax holiday weekend from July in
2003, to August in 2004.
SALES SUMMARY
-0-
*T
Comparable Store Total Sales
Sales Trend
% Increase (Decrease) ($ in Millions)
--------------------- ---------------
Fiscal Period 2005 2004 2005 2004
----------------------------------------------------------------------
1st Quarter 4.9% 4.5% $310.1 $289.6
2nd Quarter 7.0 (3.2) 309.4 279.9
August 1.5 8.1 111.2 105.7
September (2.6) 2.5 98.5 97.9
October 14.9 1.8 96.3 81.7
3rd Quarter 3.9 4.3 306.0 285.3
Year-To-Date (9 mos) 5.3 1.8 925.5 854.8
*T
Jim Scarborough, Chairman, President and Chief Executive Officer,
commented, "We are very pleased with our strong 14.9% comparable store
sales increase for October, which represents our largest monthly comp
store sales gain so far this year. It is gratifying to note that our
sales performance was broad based in nature, with most of our major
merchandise categories achieving comparable store sales increases
during the month. In fact, five of our merchandise divisions achieved
comparable store sales growth in excess of 20%, namely young men's
(+23.9%), children's (+23.6%), special sizes (+22.4%), junior
sportswear (+21.5%) and cosmetics (+21.1%)."
Mr. Scarborough continued, "Our October sales performance
benefited from generally cooler and more seasonable weather, combined
with strong customer response to our fall merchandise assortments, and
a significant sales rebound in the market areas that were most
impacted by hurricanes Katrina and Rita in September."
Mr. Scarborough concluded, "Based on our preliminary operating
results for the third quarter, we expect to meet or exceed the upper
end of our previously provided earnings guidance range for the period
of $0.28 per diluted share. Looking forward, we believe that we are
well positioned for the fourth quarter, with great looking merchandise
selections for the upcoming holiday shopping season."
The Company plans to report its actual third quarter and
nine-months results before the market opens on Thursday, November 17,
2005, and will hold a conference call and webcast the same day
beginning at 8:30 a.m. Eastern Time.
Store Activity
During October, the Company opened new Peebles stores in
Clarksdale, MS, Monticello, KY, Jacksboro, TN, Springfield, VT,
Waynesboro, PA, Seaville, NJ and Winder, GA, which was the Company's
first store in that state. In addition, a Stage store was opened in
Emporia, KS. These eight October openings brought the number of stores
opened during the third quarter to eleven, and increased the number of
stores opened year-to-date to twenty eight. The Company will complete
its fiscal 2005 store-opening program in November with the opening of
an additional eight new stores.
The Company stated that its four stores that were damaged in
hurricanes Katrina and Rita remain closed and, therefore, have been
removed from its comparable store sales base, until they reopen. The
Company anticipates that three of these closed stores (Orange, TX,
Port Arthur, TX and Moss Bluff, LA) will reopen in the spring of 2006,
while the fourth closed store (Chalmette, LA) is projected to reopen
in the fall of 2006.
About Stage Stores
Stage Stores, Inc. brings nationally recognized brand name
apparel, accessories, cosmetics and footwear for the entire family to
small and mid-size towns and communities through 548 stores located in
31 states. The Company operates under the Bealls, Palais Royal and
Stage names throughout the South Central states, and under the Peebles
name throughout the Mid-Atlantic, Southeastern and Midwestern states.
For more information about Stage Stores, visit the Company's web site
at www.stagestores.com.
"Safe Harbor" Statement
This news release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995,
including comments regarding the Company's outlook for the third
quarter of the 2005 fiscal year, as well as comments regarding the
number of stores to be opened in November and the timing of reopening
of its closed stores. The Company intends forward looking terminology
such as "believes," "expects," "may," "will," "should," "could,"
"anticipates," "plans" or similar expressions to identify
forward-looking statements. Such statements are subject to certain
risks and uncertainties which could cause the Company's actual results
to differ materially from those anticipated by the forward-looking
statements. These risks and uncertainties include, but are not limited
to, those described in the Company's Annual Report on Form 10-K as
filed with the Securities and Exchange Commission (the "SEC") on April
28, 2005, in the Company's Quarterly Reports on Form 10-Q as filed
with the SEC and other factors as may periodically be described in
other Company filings with the SEC.